Kelly the Dog Posted November 4, 2004 Share Posted November 4, 2004 http://www.sfgate.com/cgi-bin/article.cgi?...BAGOK9LGGN1.DTL Researchers anticipate a major recruiting effort and construction boom as California's new stem-cell experiment gets under way, creating what amounts to an independent West Coast version of the National Institutes of Health. "This will be just like the NIH -- it will be like a mini-NIH," said Dr. Evan Snyder, a stem-cell researcher and Prop. 71 backer at the Burnham Institute in San Diego. Known as the "California Stem Cell Research and Cures Initiative," the ballot measure, which provides $3 billion in state financing for stem-cell research, won by a comfortable 59 to 41 percent in Tuesday's statewide balloting. The initiative was designed as an end run around the Bush administration, which enacted a policy in 2001 barring NIH grants for any stem cell work involving destruction of human embryos. Now California has jumped in with an alternative source of grants -- up to $350 million a year for a decade, financed through state bonds to be paid back, including an estimated $3 billion in interest, through tax revenues. Link to comment Share on other sites More sharing options...
RkFast Posted November 4, 2004 Share Posted November 4, 2004 Three BILLION in state financing. Nice! Link to comment Share on other sites More sharing options...
DC Tom Posted November 4, 2004 Share Posted November 4, 2004 http://www.sfgate.com/cgi-bin/article.cgi?...BAGOK9LGGN1.DTL 101063[/snapback] Wonder how he's funding it... But even so, it makes great economic sense, too. Has the potential to make CA the major biotech region in the country in ten years or so, with all the income and tax implications contained therein. Great example of long-term thinking... Link to comment Share on other sites More sharing options...
Alaska Darin Posted November 4, 2004 Share Posted November 4, 2004 Let's all pretend we're surprised when California has to raise taxes to pay for everything. Link to comment Share on other sites More sharing options...
PastaJoe Posted November 4, 2004 Share Posted November 4, 2004 Let's all pretend we're surprised when California has to raise taxes to pay for everything. Isn't it the philosophy of supply side economics that increased tax revenue from increased business makes up for the loss of income from lower taxes? It will be a good test of that theory. Link to comment Share on other sites More sharing options...
Alaska Darin Posted November 4, 2004 Share Posted November 4, 2004 Isn't it the philosophy of supply side economics that increased tax revenue from increased business makes up for the loss of income from lower taxes? It will be a good test of that theory. 101144[/snapback] Except California has the worst business climates in the country. High real estate prices, excessive regulation, a court system that always sides with the workers, high insurance, etc. It'll take alot to get reputable companies to move there. Link to comment Share on other sites More sharing options...
Paco Posted November 4, 2004 Share Posted November 4, 2004 Let's all pretend we're surprised when California has to raise taxes to pay for everything. 101137[/snapback] This is my greatest concern. The state is strapped as it is. And the interest to be paid on this is pretty bad. The institute would actually cost $3 billion...$350 million in bond sold each year. Over thirty years, the interest would bring it to around $6 billion, from what I've read. Link to comment Share on other sites More sharing options...
VabeachBledsoefan Posted November 4, 2004 Share Posted November 4, 2004 Wonder how he's funding it... But even so, it makes great economic sense, too. Has the potential to make CA the major biotech region in the country in ten years or so, with all the income and tax implications contained therein. Great example of long-term thinking... 101081[/snapback] I'm sure he'll take away from education in Cal-lee-for-ne-ya. Link to comment Share on other sites More sharing options...
Paco Posted November 4, 2004 Share Posted November 4, 2004 Except California has the worst business climates in the country. High real estate prices, excessive regulation, a court system that always sides with the workers, high insurance, etc. It'll take alot to get reputable companies to move there. 101166[/snapback] Workman's comp is driving businesses away more than anything. Arnie is trying to fix it, but Sacramento needs to be cleaned up before he can make any real progress. Link to comment Share on other sites More sharing options...
Alaska Darin Posted November 4, 2004 Share Posted November 4, 2004 Workman's comp is driving businesses away more than anything. Arnie is trying to fix it, but Sacramento needs to be cleaned up before he can make any real progress. 101178[/snapback] I know. Our HQ used to be in Sacto... The reasons I listed all contributed to moving it back to Alaska. Higher insurance was the "soundbyte" way to say workman's comp. Don't want to confuse Democrats with business lingo. Link to comment Share on other sites More sharing options...
sweet baboo Posted November 4, 2004 Share Posted November 4, 2004 I'm a bioengineer and I don't agree with it...now but who cares what I think? here's an article discussing it http://www.foxnews.com/story/0,2933,135697,00.html yeah, fox news...but article written by a Libertarian Link to comment Share on other sites More sharing options...
.thumb.jpg.529869a0a9afd197241cad0932282c97.jpg)
Recommended Posts